British athletics great Sebastian Coe announced yesterday that he has decided to run for the presidency of world governing body the IAAF. Incumbent president Lamine Diack, 81, is stepping down next year after 16 years in the role and Coe, a former middle-distance runner and double Olympic champion at 1,500 metres, hopes to succeed him.

“As I speak to friends and colleagues around our great sport, I appreciate that we are entering a very important time for athletics and that it is the right time to open up a discussion about the future,” Coe said in a statement.

“I believe I have something to offer to that debate and it is why I am today officially announcing my candidacy for the presidency of the IAAF.”

Coe, 58, headed the organising committee for the London 2012 Olympics and is the current British Olympic Association chairman, as well as being a vice-president of the IAAF. He is expected to face competition from former Ukrainian pole vault champion Sergei Bubka, who is also an IAAF vice-president.

Former Moroccan hurdler Nawal El Moutawakel, the first Muslim woman to win an Olympic gold medal, has also been tipped to stand for election. The deadline for candidates to register for the vote is May 2015. The election will take place at the IAAF Congress in Beijing in August.

British media reports suggested that Coe, popularly known as ‘Seb’ in the United Kingdom, could unveil his election manifesto as early as next week. He has previously expressed a belief that more work needs to be done to open up athletics to young people.

“I will set out my detailed proposals for athletics and the IAAF when I publish my manifesto. It will highlight the importance of our sport embracing innovation and change as we move forward,” he added.

“I want us to have a renewed focus on engagement with young people and a real understanding of the global landscape that is shaping the next generation of athletes and fans.

“If we are guided by these principles as we review and reform our sport, then I am convinced that athletics can enter a new era with confidence and ensure a bright and exciting future.”

Coe is remembered for fighting thrilling rivalries with compatriots Steve Ovett and Steve Cram during the 1980s. He set 11 world records and also won two Olympic silver medals in the 800m.

After retiring from athletics in the early 1990s, the Chelsea supporter began a political career and was a member of parliament for the ruling Conservative party between 1992 and 1997.